South Korea says Samsung BioLogics violated accounting rules
Seoul: South Korea’s top financial regulator said on Thursday that drug manufacturer Samsung BioLogics Co Ltd (207940.KS) had violated accounting rules and it will report the case to prosecutors for potential investigation.
The decision came after a months-long review of BioLogics’ bookkeeping when it switched in 2015 to valuing its stake in drugmaker Samsung Bioepis at fair market value instead of at book value.
The accounting switch helped BioLogics swing to a profit just ahead of its $2 billion (1.51 billion pounds) IPO in 2016.
The company, which has denied any wrongdoing, was not immediately available for comments.
Shares in Fiat Chrysler and Ferrari fell more than 5 percent after CEO Sergio Marchionne fell seriously ill when suffering complications from surgery, prompting a premature change at the helm of both companies.
Automobile industry in India is opting for inorganic route to balance investments to support current growth cycles and prepare for future global disruptions, says a report.
Uttar Pradesh government will be presenting a 'vision document' on the Taj Mahal in Agra before the Supreme Court on Thursday, an official said.
Improved punctuality, cleaner toilets and coaches and better quality food and bedrolls provided in trains are needed to match the increased fare in premier trains, according to a survey carried out by the Comptroller and Auditor General (CAG) of India.
"The 20 million production milestone is a testimony of trust in brand Maruti Suzuki," MSIL Managing Director & CEO Kenichi Ayukawa said.
The station, which was named after Lord Elphinstone, the Governor of Bombay Presidency from 1853 to 1860, has now been renamed in honour of a local deity.
Lavasa -an ultimate getaway, a city that would offer the charms of European locales, with five star comforts in a scenic part of Maharashtra has now become an abandoned town.
A second chargesheet by the ED has confirmed the trail of illegal cash Mallya transferred to his accounts across global tax havens.
Delayed payment by GMR-led DIAL, the Delhi airport operator, to the CISF guards could eventually lead to passengers paying more to fly out of the Indian Capital.
The West Bengal Police has claimed to have busted a Rs 100 crore plus job racket in the Indian Railways following a crucial arrest in the Indian Capital.